Thursday July 17th
.
SPX – The General Markets dipped lower or sold off, but then buyers stepped in AGAIN and kept it from losing the 20ema. We are due for a dcl, so IS THIS the dcl?
I cannot say for sure, but it does look exactly like that mild 1/2 cycle low that we just had on June 23rd, right? This would be an EXTREMELY mild /sideways churning cl if it was. The Nasdaq really does NOT look like a dcl…
.
The Nasdaq really does NOT look like a dcl, it is simply a very strong bull run, never breaking below the 20 ema. Most of my bullish stocks on my watchlists (RKLB, AAOI, ENVX, etc) are really excellent too, so just enjoy the bull run!
.
.
RKLB (See also AAOI, ENVX, NVDA, etc) was one of my favorites before the crash, and look at the rally since just the middle of June. 100% 🙂 My position was much smaller than it should have been! I reduced during the choppy middle expecting a dcl.
.
RGTI is one of the quant stocks that has been reported on as a buy a few times in June & July here. This was July 2nd…
RGTI was up 30%. What about other Quant stocks?
.
IONQ surged like RGTI back in May. Then falling to support, it gradually rode up the 34sma. Yesterday it regained it, so is it ready to run? This is an easy ‘buy’ with a stop.
.
QBTS was at support with this gap fill in July and I pointed it out then in early July, so you may already be in it around $13 to $15…
.
I posted this chart of QBTS yesterday, because it is at resistance, but it also could break out. You can keep an eye on it for a break of the downtrend line, but again, you may own it already from my Early July coverage.
..
ROBOTICS STOCKS: RBOT, RCAT Popped, and We recently discussed KSCP, SERV, RR etc as Robotic stocks ‘setting up’ bullishly. Let’s review that…
.
SERV (Robotics) – I posted this Robotics stock yesterday at 10 a.m. in the comments, as it looked ready to go. I also bought it.
.
SERV (Robotics)– It did break out and closed up around 11%. Congrats if you caught it, and this can continue to run as a ‘buy and hold’.
.
KITT (also Robotics) – I also mentioned KITT in the comments yesterday, but I didn’t post a chart along with it, so here is the chart after the close. Seems to me that a stock like this could easily double or triple (or more) if it gets going.
.
Keep an eye on RR too. It popped up 10% yesterday and the upside potential is big if it returns to its former glory.
.
AI – BBAI has been running nicely and AI has been choppy and lagging a bit. It is slowly bouncing up along the 34 sma, but it is a bullish set up.
.
I pointed out SOUN in late June and early July. The volume kept popping on up days.
.
A trendline had been broken too…
.
On July 2 SOUN started higher, so this was in the report as another buy.
.
Soun then popped higher to $13plus 7 days ago and has dropped back to the 200sma & 50sma, where it reversed higher. It is still a buy.
.
THE USD is still at resistance.
.
GOLD tried to move higher, but Gold has been very choppy (As expected, right?). Frustrating.
.
SILVER has a day 13 peek and dipped lower. I thought that we could see a back test of the consolidation as a half cycle dip, but it started to reverse yesterday. This is a 3rd daily cycle so we could see strength or weakness at this point.
.
GDX continues to hold the 50sma and is also as choppy as Gold has been.
.
Bulls are in control, and the General Markets really have been strong with buyers stepping in on all of the dips above the 20 ema. Dips have been very mild. Any deeper dip into a dcl would obviously be a buy. Enjoy your Thursday trading!
.
~ALEX
.
BITCOIN often runs up higher during a bull run and then seems to chop over to the 20 ema. That chop is a normal consolidation phase and we could see a triangle pattern or a bull flag to the 20ema. This is also a good time to watch the Crypto Stocks to see if they are holding up or not during this chop…
.
WULF – looks very good above the 200sma, as bitcoin churns sideways.
.
RIOT ran higher mainly in June, before Bitcoin surged, and then it peaked with bitcoin, so that was a strong run. It is now resembling Bitcoins climb along the 20ema with occasional small breaks & recoveries.
.
Many Crypto stocks are doing their own thing. We saw that with CAN, BTBT, & FTFT rallying strongly, while others lag. BTDR used to perform strongly, but was surprisingly dull lately.
.
BTDR rallied in April nicely, but since then it has been choppy while Bitcoin has been surging. I will ay that this set up looks bullish now though. WILL IT RUN or just continue to churn sideways? I do not know, but it may be ready to go higher soon.
.
